A cyclical model of institutional change
Purpose ‐ Previous research on institutional change has largely ignored its cyclical nature. This paper aims to introduce a four-phase cyclical model of long-term institutional change. Design/methodology/approach ‐ The recurrent patterns of the model have been identified from previous technological revolutions and their accompanying surges of development. The model also incorporates generational theory as a driver of institutional change. Findings ‐ The model predicts that a multi-year institutional crisis is currently underway that has important implications for practitioners. The paper also describes proposed solutions to the current crisis. Originality/value ‐ The model developed synthesizes disparate institutional theories to build a new explanation for long-term economic development.
Keywords: Economic development; Innovation; Organizational change
Document Type: Research Article
Publication date: 29 May 2009
Receive new issue alert- Access Key
- Free content
- Partial Free content
- New content
- Open access content
- Partial Open access content
- Subscribed content
- Partial Subscribed content
- Free trial content